Narwhal Capital Management Cuts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Narwhal Capital Management reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.8% during the 4th quarter, HoldingsChannel reports. The fund owned 44,249 shares of the semiconductor company’s stock after selling 817 shares during the period. Analog Devices accounts for 0.8% of Narwhal Capital Management’s portfolio, making the stock its 28th biggest position. Narwhal Capital Management’s holdings in Analog Devices were worth $9,401,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Analog Devices during the 3rd quarter worth approximately $28,000. Archer Investment Corp grew its holdings in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices in the third quarter valued at about $43,000. Reston Wealth Management LLC purchased a new position in Analog Devices during the third quarter worth approximately $48,000. Finally, Northwest Investment Counselors LLC purchased a new position in Analog Devices during the third quarter worth about $80,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Price Performance

ADI stock opened at $217.37 on Monday. The business’s 50-day moving average is $216.42 and its two-hundred day moving average is $222.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The firm has a market capitalization of $107.85 billion, a P/E ratio of 66.07, a P/E/G ratio of 2.57 and a beta of 1.05. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the company earned $2.01 earnings per share. The firm’s revenue was down 10.1% compared to the same quarter last year. Analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

Insiders Place Their Bets

In related news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $11,029,300 in the last ninety days. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Barclays lowered their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Morgan Stanley reduced their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Truist Financial increased their price target on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Finally, Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.